Saturday, January 25, 2020

Humanity Exposed in Mark Twains Adventures of Huckleberry Finn Essays

Humanity Exposed in The Adventures of Huckleberry Finn People are the picture of contrast, sometimes strong and heroic and other times weak and lamentable. In the novel, The Adventures of Huckleberry Finn, Mark Twain illustrates both the good and the disagreeable portions of human nature. The good side of humanity is shown through his depiction of peoples' courage. The irrationality of mankind is exposed through the actions of characters in the novel. The unproductive self-serving attitude of many people is also shown in Huck Finn. The benign and malevolent faces of humankind are shown through people's courageousness, senselessness, and selfishness. Mark Twain displays good in humanity through depictions of courage in the characters of Huck Finn and Jim. Huck Finn was certainly one of the bravest characters in the book to have faced all of his adventures. When he and Jim happened upon a crashed steamboat, "The Walter Scott", and discovered a ruthless band of cutthroats, Huck had the courage to try and stop them. Huck said, "But if we [Huck and Jim] find their boat we can put all of 'em [the cutthroats] in a bad fix-for the Sheriff 'll get 'em" (Twain 90). Huck had the fearlessness to risk his own life to bring several murderous criminals to justice. The character Huckleberry Finn displayed the human virtue of heroism when he decided to free Jim from the clutches of the Phelps family. Although he thought it would cost him his soul, Huck had the courage to follow his heart in freeing Jim as summed up by his thought, "All right, then, I'll go to hell"(Twain 273). Twains other main character besides Huck Finn is a runawa y slave. This slave, Jim, exemplified true courage. When Jim decided t... ..., I reckon we'd come to consider him our [King and Duke's] nigger; yes, we did consider him so-goodness knows we had trouble enough for him"(Twain 275), shows that they will not help any one without getting something in return, and that they did not view Jim as a person to respect. In the novel The Adventures of Huckleberry Finn, Mark Twain illustrates several traits that are common in mankind. Among these traits are those that are listed in this essay. Through characters in the story Twain shows humanity's innate courageousness. He demonstrates that individuals many times lack the ability to reason well. Also, Twain displays the selfishness pervasive in society. In The Adventures of Huckleberry Finn, many aspects of the human race are depicted, and it is for this reason that this story has been, and will remain, a classic for the ages. Humanity Exposed in Mark Twain's Adventures of Huckleberry Finn Essays Humanity Exposed in The Adventures of Huckleberry Finn People are the picture of contrast, sometimes strong and heroic and other times weak and lamentable. In the novel, The Adventures of Huckleberry Finn, Mark Twain illustrates both the good and the disagreeable portions of human nature. The good side of humanity is shown through his depiction of peoples' courage. The irrationality of mankind is exposed through the actions of characters in the novel. The unproductive self-serving attitude of many people is also shown in Huck Finn. The benign and malevolent faces of humankind are shown through people's courageousness, senselessness, and selfishness. Mark Twain displays good in humanity through depictions of courage in the characters of Huck Finn and Jim. Huck Finn was certainly one of the bravest characters in the book to have faced all of his adventures. When he and Jim happened upon a crashed steamboat, "The Walter Scott", and discovered a ruthless band of cutthroats, Huck had the courage to try and stop them. Huck said, "But if we [Huck and Jim] find their boat we can put all of 'em [the cutthroats] in a bad fix-for the Sheriff 'll get 'em" (Twain 90). Huck had the fearlessness to risk his own life to bring several murderous criminals to justice. The character Huckleberry Finn displayed the human virtue of heroism when he decided to free Jim from the clutches of the Phelps family. Although he thought it would cost him his soul, Huck had the courage to follow his heart in freeing Jim as summed up by his thought, "All right, then, I'll go to hell"(Twain 273). Twains other main character besides Huck Finn is a runawa y slave. This slave, Jim, exemplified true courage. When Jim decided t... ..., I reckon we'd come to consider him our [King and Duke's] nigger; yes, we did consider him so-goodness knows we had trouble enough for him"(Twain 275), shows that they will not help any one without getting something in return, and that they did not view Jim as a person to respect. In the novel The Adventures of Huckleberry Finn, Mark Twain illustrates several traits that are common in mankind. Among these traits are those that are listed in this essay. Through characters in the story Twain shows humanity's innate courageousness. He demonstrates that individuals many times lack the ability to reason well. Also, Twain displays the selfishness pervasive in society. In The Adventures of Huckleberry Finn, many aspects of the human race are depicted, and it is for this reason that this story has been, and will remain, a classic for the ages.

Friday, January 17, 2020

Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports Essay

Investment Appraisal Introduction Question 1   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   An investment appraisal is a planning process that is utilized in determining the preparedness of a business to undertake a long term investments such as expansion, developing a new project, acquiring new machinery among others (Les Dlabay, 2007). This is a complex process that requires the analysis of sources of finance, their implications, budgeting and financial statements. Sources of finance   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Coca-cola which is the world leading non-alcoholic beverage company marketing their products in over 200 countries worldwide have the god foundation of assets, shares, short term liabilities, long-term loans and goodwill as its source of finance.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The assets of the company form the major source of its finances accounting for $ 57,751 million in 2013 and $ 55,849 million in 2012 (The Coca-Cola Company, 2013). These include tangible and non-tangible assets such as property, plants, equipment, equity method investments and goodwill. This can be summarized as shown in the table below. ASSETS (In millions) 2013 $ 2012 $ Equity method investments 10,393 9,216 Investment in bottling companies 1,119 1,232 Other Assets 4,661 3,585 Property, Plant and Equipment 14,967 14,476 Trademarks with indefinite lives 6,744 6,527 Bottles franchise rights with indefinite life 6,415 7,408 Goodwill 12,312 12,255 Other intangible assets 1,140 1,150 TOTAL ASSETS 57,751 55,849   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Long term and short term liabilities are another source of finance for the company. The company’s total long term liabilities in the year 2013 were $ 90,055 million and $ 86,174 million in 2012 (The Coca-Cola Company, 2013). Their long term external sources of finance include debts, deferred income taxes and the company’s share owners as contained in the table below. LONG TERM LIABILITIES (In millions) 2013 $ 2012 $ Long term debts 19,154 14,736 Other liabilities 3,498 5,468 Deferred income taxes 6,152 4,981 TOTAL ASSETS LONG TERM LIABILITIES 90,055 86,174   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Important company activities that generate profits that are ploughed back to the business as a source of finance include investments and new ventures. These are proceeds from the investments, acquisition of other businesses, equity method investments, non-marketable securities, purchase and sale of property, plants and equipment and their associated proceeds. In 2013, the company realized a total of $ 10, 414 from the investment and operating activities as per their 2013 annual report.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Internal short term sources of finance for the company are the current assets of cash and cash-equivalents such as marketable securities, inventories, current assets held for sale and the proceeds from the short term investment. Their balance sheet as at December 31, 2013 shows a total of $ 17, 121 million current assets. Implications of the sources   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   However much the company had good financial sources in its assets, liabilities and shares, each of the sources may impact negatively or positively to the business. The straight forward implication of liabilities especially loans is the interest rates and the obligation to repay them in good time. Failure to settle the debts and loans may lead to imposition of fines and penalization. The creditors may go to the extent of stopping to supply the company with goods and services on credit and demand for cash on delivery.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Use of shareholding as a source of finance for the company may also have its own positive and negative implications. Shareholders are like investors in the business and therefore they must be paid their returns as dividends (Fardon, 2003). This might be very difficult in cases where the company makes losses. Sometimes, especially in a scenario where there are no strict policies on the maximum percentage share that a shareholder can buy, the ownership of the company may be transferred to a shareholder that buys majority of the Company shares. Question 2 Importance of financial planning   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Finance is the driving force for a company like Coca-cola. After its financial sources have been identified, accurate financial planning is necessary for its success. Financial planning is the foundation from which all successful businesses are built. Running on a clear financial plan ensures that a company is well prepared to meet its anticipated expenses in terms of payroll, transport, communication any other day to day business operation expenses.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The plan is important when the company is at the extremes of either profit making or suffering losses. It provides a stepping stone in which the company can forge a way forward and plan for the future while at the same time handle the present. A good financial plan finds it usefulness when a company is preparing to deal with rising costs and increasing current and long term liabilities. It allows for these conditions to be anticipated early enough so as deal with them when they arise.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Additionally, a financial plan is a critical tool in the organization of the various departments within the company. A well prepared and revised financial plan that considers every quarter of the company is of valuable contribution to the smooth running of the company as a whole. Lastly, an estimate of earnings can be done through a financial plan. Lack of these estimates sets a trap that the company might fall in due embezzlement of funds and misappropriations. A financial plan is very effective in making investments and profits into diversified portfolios within the company.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The process of making decisions requires the company directors to be provided with the necessary information. These include financial reports that contain details of business transactions, profits, losses, expenses, revenues, assets and liabilities. This allows for comparison of business performance in the previous financial year. The departmental estimates of expenditures and their estimated sources of revenue are also part of this information.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The factors that may affect the choices of decisions makers during financial planning are the number and wages of employees, available cash at hand and cash required to pay suppliers on time and to buy current assets such as equipment and stationeries. The possibility of expanding the business is also considered when such decisions are made (M. P. Narayanan, 2004). Appropriateness of the sources of finance for a business project   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In order to manage the financial sources and make appropriate decisions, it is important that the directors analyze the costs of the sources, for example, the cost to be incurred to obtain the finance such as fees payable to the financial institutions, commissions and interests, stock brokers among others. In the Coca-Cola Company where the major sources are the fixed assets, liabilities, ploughed back profits, profits from investments and current assets, the appropriateness of the sources depend on the ability of the finances to run a business investment. Bank loans are the major long term source of finance for many companies. This source is very appropriate for Coca-Cola Company. The repayment is spread over a long period of time. The company is financially stable and can easily afford the required securities to acquire a loan. Although the interest rates may be higher making the process expensive, the merits outweigh the demerits and th e risk is worth taking.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Coca-cola is a limited company and therefore the use of stock shares as a source of finance is appropriate. The finances are not repaid although the profit is shared among the shareholders as dividends. The capacity of this company to make profit is unquestionable. The risk of change in company ownership due to sale of major shares can be regulated by business policies that restrict such sales. Moreover, sale of assets such as the current assets to raise capital is appropriate for this company. The surplus assets can be sold off and the proceeds retained to run the business. There is little, if any, risk associated with sale of surplus assets. Impact of finance and financial statements   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Finance and financial statements have positive and negative effects to the business depending on the financial position of the company. Financial statements form the basis from which shareholders and potential investors evaluate the performance of the business. The statements also regulate accountability in the running of the business.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The financial position of the business is portrayed in the financial statements. It used by the company to acquire loans from banks. Financial statements that directly indicate instability of a business have a negative impact to the business by blocking potential investors, creditors and banks. Finance and financial statements have a direct effect on business transactions. It gives detailed information about the lag phases and peaks of a business. Such details include fluctuations in prices in comparison to competitors in the market (Ittelson, 2009). If, for example, Coca-Cola Company increased the prices of their beverages by 1%, their immediate competitor Pepsi may have an upper hand in the market.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A balance sheet gives information on the resources that the business has against its liabilities and the capacity of the business to settle its debts. Cash flow statements are important in informing the public about the money entering and leaving the business. All of these can negatively or positively influence the customers, suppliers, creditors and potential investors. Financial statements have a direct impact on the stock price. The information in the statements can be used by business managers to either increase or decrease the price of products. Main financial statements   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In designing investment options and identifying their appropriateness, it is important to prepare financial statements. These statements have different formats depending on the size and type of the business. The statements are; balance sheets, cash flow statements and income statements. A balance sheet is a financial statement that reports a company’s assets, liabilities and stock holders’ equity in a given financial period. Current assets, fixed assets and investments are balanced against liabilities and stock holders’ equity. A balance sheet for Coca-Cola Company as at 31st December, 2013 is as follows (The Coca-Cola Company, 2013). THE COCA-COLA COMPANY CONSOLIDATED BALANCE SHEET AS AT 31ST DECEMBER, 2013. ASSETTS(In Millions) Currentassets $ Cash and cash equivalents10,414 Short term investments 6,707 Total cash, cash equivalents and short term investment17,121 Marketable securities3,147 Trade accounts receivable less allowances of $ 614,873 Inventories3,277 Prepaid expenses and other assets2,886 Total current assets31,304 Fixed assets Equity method investments10,393 Other investments principally bottling companies1,119 Other assets4,661 Property, plant and equipment –net14,927 Trademarks with indefinite lives6,744 Goodwill12,312 Other intangible assets1,140 TOTAL ASSETS90,055 LIABILITIES AND EQUITY(In Millions) Current liabilities $ Accounts payable and accrued expenses9,577 Loans and notes payable16,901 Current maturities of long term debt1,024 Accrued income taxes 309 Total current liabilities27,811 Long term debts19,154 Other long term liabilities 3,498 Shareholders’ equity –total33,440 TOTAL LIABILITIES AND EQUITY90.055   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The balance sheet is similar regardless of the size and type of the business. Its format does not change. Cash flow statements are prepared to assess the company’s earnings and expenses. The quality of the earnings is determined by comparing the cash flow from operating activities with the company’s net income (R, 2003).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Income statements are financial documents that show the sources of income in a business organization. Coca-cola Company had the following statement of comprehensive income as at December 31, 2013. THE COCA-COLA COMPANY CONSOLIDATEDSTATEMENT OF COMPREHENSIVE INCOME AS AT 31ST DECEMBER, 2013. $ (In Millions) CONSOLIDATED NET INCOME8,626 OTHER COMPREHENSIVE INCOME Net foreign currency translation adjustment(1,187) Net gain (loss) available for sale of securities (80) Net gain (loss) on derivatives 151 Net change in pension and other benefit liabilities1,066 TOTAL COMPREHENSIVE INCOME8,576 Less comprehensive income loss attributed to interests 39 TOTAL COMPREHENSIVE INCOME ATTRIBUTED TO SHAREHOLDERS OF THE COMPANY8,537 Note: Figures in brackets indicate losses or reductions Interpretation of the financial statements   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Financial statements are usually prepared and interpreted towards the end of a financial year to give information about the business financial stability. The above financial statements can be interpreted by using appropriate financial ratios to help compare them with the performance during the previous financial year or with another company. These ratios derived from a balance sheet are working capital, current ratio, Quick ratio (Pamela Peterson Drake, 2012).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Financial statements provide rich information to investors and suppliers. This information are used to evaluate the performance of the company. The statements are also used as a communication tool by managers to interested parties about their achievement in the management of the company. There are different financial statements as discussed above that give unique business information on the company.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Financial conditions of a company are the major detail and a point of concern for several potential investors. Investors are the major capital providers. They rely on the information contained in the balance sheet, income statements and cash flow statements for their safety and certainty regarding a potential investment into a company. It enables the investors to understand their position in the company’s capital regimen.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The balance sheet is considered the snap shot of a company’s assets in comparison to liabilities and shareholders’ equity. This is considered the operating result of the company. These results are also an area of concern to investors. Income statement gives a report of operating results. This includes the sales, expenses and profit or losses in a given financial year. This information is critical in the evaluation of the company’s past performances and to predict the future of the business. Profits or losses are usually provided by the income statement but this may contain non cash-equivalent or non-cash parameters. The information is not direct as to the company’s cash transaction during the financial year. This leaves room for cash flow statements to give the details. It contains information about the cash that get into the business and those that leave the business thereby showing an exchange of cash. Shareho lders’ equity shows the variations in the various equity components. This is usually calculated by deducting total liabilities from the total assets of the company. A company with a good performance like Coca-Cola has a steady increase in its shareholders’ equity. This is associated with either a decreasing or constant shareholders base.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Working capital is calculated by deducting current liabilities from the current assets. The working capital for Coca-Cola Company for the year ended December 31, 2013 can be calculated as follows. Working Capital (in millions) =Current assets – Current liabilities. = $ 31,304- $ 27,811 = $3,493   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The working capital for Coca-Cola Company is a positive figure of $ 3,493 million indicating that the company is at a better position to meet its current obligations such as paying workers, paying brokers, servicing short term loans among others.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Current ratio is calculated by dividing the current assets by the current liabilities. It is related to the working capital. Another ratio is Quick ratio. It is also known as acid test ratio and is calculated as follows; Quick ratio = Cash + Temporary investment + Accounts receivable Current liabilities   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Quick ratio is similar to the current ratio only that inventories, supplies and prepaid expenses are excluded. It is used to determine the amount of assets that can be turned quickly into cash.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Free or Discounted cash flow is a financial ratio that is derived from the cash flow statement. Free cash flow is calculated by deducting capital expenditures from total cash flow provided by operating activities (Fardon, 2003). Free cash flow for Coca-cola as at December 31, 2013 is calculated as shown. Free cash flow = Cash flow provided by the operating business – Capital expenditures. =10,542 – (14,782+2,550+303) = -7,093   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This statistically indicates that the company is at a deficit of $ 7, 093 million after paying its capital expenditures.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The income statement can be analyzed to give gross margin, profit margin, Return on Stoke holders’ equity and earnings per share. Return on Stoke holders’ equity is important in revealing the percentage profit after taxation and therefore the dividends payable to shareholders. Return on stock holders’ equity for Coca-Cola Company as at December 31, 2013 is calculated as shown. Return on Stockholders’ equity = Net income after taxes Average shareholders’ equity = 8,622 8537 =1.01%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This reveals that the company earned 1.01% of profit after taxation on an average shareholders balance during the year. Suitable budget and appropriate decisions   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The most significant form of planning a capital investment budget is to make appropriate decisions and market well. Budgeting is the foundation of financial economics. Making decisions that have importance long term effects is the basis of budgeting. In budgeting, policies are maximized so as to achieve the most positive net profit and returns. Making decisions should be principally governed by benefit analysis. The budgeting process is also governed by the future consequences and impact to the business   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Every financial source has an implication to the business. Financial statements help provide such implications and can be used in selecting a suitable budget. A company may decide to sell its shares after analyzing its effectiveness in raising capital for a new business venture (Pamela P. Peterson, 2004). The process of deciding on a proper capital investment for the expansion of Coca-Cola Company involves calculating the cost of investment, protection of cash flow from the investment, consideration of the inflation rates and the time value of the expansion. For example, if the investment will cost $ 10 million and generates $ 4 million annually, the investment is feasible because it provides a pay back within 2.5 years. A budget can therefore be prepared from this basis.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   An example of a suitable budget proposed for The Southeastern Pennsylvania Transportation Authority (SEPTA) for the Fiscal year 2012 is as follows (SEPTA, 2011) . FISCAL YEAR 2012 CAPITAL BUDGET Project FY 2012 Funding Requirement Bus Purchase Program $59,209,593 Capital Asset Lease Program 28,720,862 Congestion Relief 2,233,000 Debt Service 52,654,545 Infrastructure Safety Renewal Program 34,400,000 Paratransit Vehicle Acquisition 5,000,000 Regional Rail Signal System Modernization 35,800,000 Safety and Security Improvements 5,000,000 State of Good Repair Initiatives 15,200,000 Station Accessibility 4,800,000 Station and Parking Improvements Program 10,400,000 System Improvements Program 5,000,000 Vehicle Overhaul Program 53,100,000 TOTAL FY 2012 Capital Budge$311,518,000   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Marketing decisions are dependent on capital budgeting. The decisions to be made on long term investments are dependent on the income that will be generated from the project. It is important to know the duration that the project will take to mature. That is, the time it will take to generate income equivalent to the amount invested in the business. Modern finance theories equate the value of the assets to the discounted future income generation. The net profit value rule is therefore used by companies that contemplate venturing unto capital project if they adopt this theory. Assessing project viability   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The financial viability of a project is assessed using the investment appraisal techniques. This involves the use of tools such as Return on Investment (ROI), Debts Service Coverage Ratio (DSCR), Break Even Point (BEP) and Debt Equity Ratio (DER).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In Return on Investment, the collections of the company are used to create assets and in the running of the business. The business must generate surplus on the collected capital for it to be considered viable. Borrowed and own capital is considered the cost of the project while the profits are the surplus generated. ROI should be greater than the cost of the investment for the business to be considered viable.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Debt Service Coverage Ratio (DSCR) measures the ability of the project to meet its repayment obligations on loans acquired financial institutions (Pamela P. Peterson, 2004). It is calculated as follows. DSCR= Net profit + Interest on long term loans + Depreciation Interest on long term loan + Principal loan   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The cumulative DSCR during the repayment period should be at least 2:1 for the project to be considered viable. Break Even Point (BEP) measures the level of total contribution to the total fixed assets. Contribution is usually the excess of sales over the variable cost. That is; Contribution = Sales – Variable Costs. PEP is the point where both fixed and variable costs are recovered from the resources. It is calculated using the formula; Total fixed costÃâ€" selling price per unit Contribution per unit cost   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It indicates the risks involved in the business. If the PEP is achieved at a lower level of capacity utilization, it is considered safer. In this case, the investment is viable.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Debt Equity Ratio measures the level at which the investment project is leveraged to acquire loans from financial institutions. It is calculated by the formula; Total long term debts Total funds in the investment   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The factors to be considered when assessing the viability of a project are the nature of the goods and services to be offered. Their level of complexity should be determined and the risks involved as well. The value of the procurement is another factor of concern. It involves the determination of the amount of capital that the procurement can cost. The financial viability assessment matrix group risks speculated into several levels. The low risk level contains low levels of complexity, low value and short term supplies. The moderate risk level contains moderate value, sensitivity and medium term supply. The high risk level contains high strategic importance to agency, high complexity levels and sensitivity. When assessing the risks, the likelihood of a financial feasibility should not be ruled out while making budgeting decisions. References Fardon, C. D. (2003). Management of Finance. New york: Osborne Books. Ittelson, T. R. (2009). Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports. New York: Career Press, Incorporated. Les Dlabay, J. B. (2007). Business Finance. Stamford: Cengage Learning. M. P. Narayanan, V. K. (2004). Finance for Strategic Decision-Making: What Non-Financial Managers Need to Know. New Jersy: John Wiley & Sons. Pamela P. Peterson, F. J. (2004). Capital Budgeting: Theory and Practice. New Jersey: John Wiley & Sons. Pamela Peterson Drake, F. J. (2012). Analysis of Financial Statements. New Jersey: John Wiley & Sons. R, D. J. (2003). Accounting for Non-Accounting Learners. New York: Pitman. SEPTA. (2011, Aril). The Southeastern Pennsylvania Transportation Authority. Retrieved April 2014, from Finance: http://www.septa.org/reports/pdf/budget-proposal-cb12.pdf The Coca-Cola Company. (2013, December). The Coca-Cola Journey. Retrieved April 2014, from Annual Financial Report: http://www.coca-colacompany.com/our-company/company-reports Source document

Thursday, January 9, 2020

Software Technology On Student Learning - 1520 Words

Preciado 1 Carlos Preciado Dr. Zimmerman English IV November 12, 2015 Software Technology on Student Learning My topic for the Senior Exhibition is Software Technology. I want to demonstrate how using technology can enhance a high school students learning experience. By knowing what I know about Software Technology I want to demonstrate how effective it can be to the educational system. As a learning experience, It will include my interview with my mentor and all the sources I cited. It will also include the ideas that will be required to commence my project right away. Technology has impacted our lives with it s extraordinary stuff it can do. Finding almost all the answers to literally anything, technology can be the answer to be a successful future. Creating software programs is much harder than it sounds like. You need to know how to write code in a computer JavaScript which many people do not know what it is or what it means. A JavaScript is a blank page where you write commands (code) to order the computer to display and demonstrate it on the user computer screen. Students these past fe w years, have been utilizing their mobile phones or tablets as a resource to assist them with any of their assignments. There are already some few software applications in smartphones that allow the user to get help on any subject for the sake of learning with videos or with hands-on tutorials. Technology has advanced so much it’s been idealized as perfection on computer platforms.Show MoreRelatedAssistive Technology Solutions For Students With Learning Disabilities769 Words   |  4 PagesAssistive Technology Solutions Technological advances have increased access to the curriculum for students with learning disabilities. Assistive technology are the devices and services used to maintain or improve the capabilities of a student with a disability (Dell, Newton, Petroff, 2011). 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